Vipin (ddd) (84 Points)
21 August 2015What is the meaning of intermittent vacancy in case of woman director? Is this vacancy known as casual vacancy? Or vacancy arises due to retirement? Can woman appointed in the company as any type of director fulfilled the provision of sec 149?
From
Vipin srivastava
CA Final Student
prakash
(Company Secretary)
(1352 Points)
Replied 21 August 2015
Dear Vipin,
Any women director appointed in stipulated class of Companies, whether as Independent Director or Nominee Director or Executive Director or Non-Executive Director deemed to have been complied with Section 149 (1) of CA, 2013.
Intermittent Vacancy can be casual vacancy or vacancy by way of resignation or retirement and shall be filled up by the Board at the earliest but not later than immediate next board meeting or three months from the date of such vacancy whicheveris later.
But Independent women director cannot be appointed by board, she should be appointed in General meeting only.
Vipin
(ddd)
(84 Points)
Replied 21 August 2015
prakash
(Company Secretary)
(1352 Points)
Replied 22 August 2015
Dear Vipin,
Independent women director is not liable to retire by rotation but other non independent women directors are liable to retire by rotation unless otherwise specificly stipulated in AOA of the Company.
Tenure of office of women Director is like other director only,
if she is independent director, she shall hold office for two consecutive terms but she is eligible for appointment after the expiration of three years of ceasing to become an independent director..
If women director is MD/Whole Time Director for one term of five year and can be reappointed once again.
IF women Director is non-independent and non-executive, she can continue untill resigned or removed.
Intention of Law is to encourage and facilitate women to be part of corporate world.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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